I’m in contract on a turnkey MF property and my cash flow is looking WAY better than their initial pro forma given the huge rate decreases.

I just want 5-30 buyers/ county we can form a tight trusting relationship with.The second we get the leads in I will share them with you.

If your friend is smart he will get that even if you form a company to do this.My rentals are owned by a Sub S corp, but it has been in existence for 30 years or more.

Also, should I form a corporation to protect my real estate assets and personal assets.

Hi Brad and others, I'm interested in finding 2-6 other guys to form a mastermind with (1M+, similar to GoBundance), focused on all aspects of life, business and money included (US based, Virtual: Google Hangouts, Zoom, or FaceTime, etc).

So either get licensed OR, have your buyer in advance, form a new entity naming both of you as owners, vest the offer in the name of that entity, show your buyer’s proof of funds where and when applicable, and at closing, simply sell your shares of the company for your “profit” on the deal.

I don't like thin deals because any blip in the markets could ruin the pro-forma projections.  

It's been two years I didn't look at the numbers but after posting the pro forma from almost 2 1/2 years ago it's 1.69. for 36 one-bedroom units.

I am not familiar with the company specifically but I would just say that out-of-state investors (particularly from California) who are looking at turn key properties are often enticed by the "pro-forma" cash flow projections & sometimes do not put enough focus on the sales comparables (i.e. what is the 'true market value' of the property at Day 1 & how does that relate to how much I paid). 

I thought it was a great idea to form a group to help keep yourself focused and accountable on your real Estate goals.